"Early crisis warning signs" lecture at the first conference of Croatian Controllers Association
Strategic early warning system includes traditional methods enhanced with new instruments
Roland Berger participated at the first conference of Croatian Controllers Association, on November 3, 2009, in Zagreb's Hotel Antunović. The topic of the conference was "Controlling in Croatia – status and perspectives" with the aim to present practical experience and methods in controlling to numerous conference participants. Roland Berger representative, M.Sc. Dejana Dojčinović, senior consultant from Zagreb office, held a speech on "Early crisis warning signs". The lecture was the result of Ms. Dojčinović's academic and empirical research on early crisis warning signs, and her project experience.
There are numerous causes of crisis, but most of them are internal. Early crisis warning signs are present very early, but all companies that end up in crisis failed to identify them on time. Early warning systems aim, with their methods and instruments, to indicate the relevant changes in their earliest stage, so that management could have enough room for maneuver and a greater choice of restructuring measures. There are operative and strategic early warning systems, but crisis can only be recognized and overcome with strategic ones.
"Strategic early warning systems include not only new methods and instruments, but also new approach towards the analysis. While classical approach focuses only on the analysis of one area, mainly on financial indicators through statistical models of early warning, strategic approach assumes broad analysis spectrum. Strategic, modern approach includes traditional methods enhanced with new instruments analyzing company's environment, branch and markets in which the company is active, management and key financial indicators", concluded M.Sc. Dejana Dojčinović.
There are numerous causes of crisis, but most of them are internal. Early crisis warning signs are present very early, but all companies that end up in crisis failed to identify them on time. Early warning systems aim, with their methods and instruments, to indicate the relevant changes in their earliest stage, so that management could have enough room for maneuver and a greater choice of restructuring measures. There are operative and strategic early warning systems, but crisis can only be recognized and overcome with strategic ones.
"Strategic early warning systems include not only new methods and instruments, but also new approach towards the analysis. While classical approach focuses only on the analysis of one area, mainly on financial indicators through statistical models of early warning, strategic approach assumes broad analysis spectrum. Strategic, modern approach includes traditional methods enhanced with new instruments analyzing company's environment, branch and markets in which the company is active, management and key financial indicators", concluded M.Sc. Dejana Dojčinović.
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